http://money.cnn.com/2010/12/21/news/eco.../index.htm
Quote:By Steve Hargreaves, Senior writerDecember 21, 2010: 3:36 PM ET
NEW YORK (CNNMoney.com) -- Holiday shoppers will need to bump up their budget for one purchase this year, and they can't even put it under the tree: gasoline.
The price of fuel is up 13.6% from last December and 76% higher from December 2008, according to a new study from the Oil Price Information Service.
Nationwide, drivers are estimated to spend $305 on gasoline in December.
Who's hardest hit? People in Montana.
Montana households are estimated to spend over $449 on gas in December, representing a 12.74% slice of their overall household budget.
Residents of New York are getting off relatively easy. Households there are estimated to spend around $214 on gas in December, just 4.71% of their household income. Other low-cost states include Maryland, Massachusetts, Nevada and Illinois.
It's common that people in rural states spend a higher percent of their salary on gas, as incomes tend to be lower. They also often have further to drive for work, and tend to buy larger vehicles.
The study's authors noted high fuel prices are likely to have a big effect on other things people purchase.
I live in a rural area in Washington state. Local gas prices are at $3.29, diesel is at $3.65! Prices usually go down in the winter, this year they stayed high and went up 3 cents after the elections, even though the price of oil was about the same as the month before. Seems like after the republicans won in the house, oil prices and gas prices have gone up, and they predict them to go up even further.
I remember before Bush took office when my fuel bills were around $50 or so per month. They have gone up almost every year since, but did go down after the elections of 2008! I guess the big oil money knows they don't have to worry about any new regulations not that the republicans will be in charge of the house!
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